What is Crypto Market
Crypto market is a trade that act upon speculating on crypto price moving up and down, through a good and reliable CFD crypto account.
This Contract For Differences (CFD) is just a way whereby you don't have to take ownership of any underlying crypto in the market. in this contract you just exchange crypto price difference in the market, you buy when the market is low (that is when the contract is open) and then sell when the market is high (that is when the contract is closed).
The Importance of CFD
CFD helps you to monitor the crypto market, to know the movements of crypto price, if it's going up or down. this determine the profit or loss you make in crypto market.
I will be making use of #CoinMarketCap to show how CFD work's
Using Ethereum Crypto and BNB Crypto.
From the picture here we can see that Ethereum is increasing in price as its showing Green💚 in colour, that means the signal is going up👆.
From the picture here we can see BNB is reducing in price as its showing Red♥️ in colour, that means the signal is going down👇.
Making some profit in crypto market.
Step one:
During you're buying and selling of crypto, you will need to create an exchange account. then you put your open valued assets in a position. this where you store the crypto you buy in a wallet.
Here you buy crypto when it is low and store it. For Example; buying BNB Crypto at 369.59 dollars and once it goes above the amount you can sell it.
Step Two:
When the crypto you purchase increases in market price, then you will need to sell it. And this is time for selling to make profit. During selling this where decision-making comes in. For Example; like some people they got ethereum when it was 2,589.87 dollars, and now ethereum increases to 3,109.25 dollars, they will still be waiting for it to keep increasing. Instead of selling it off. This a market you don't know when it will fall or when it will increase so is good to make a good decision.
Step Three:
This step is very important as many people have falling victim of losing their crypto assets to another person. always make sure you are buying and selling your crypto in the right platform. There are many scammers out there. Crypto business is a very good business that's why you have to be careful about it cause many people are there wants to collect your crypto.
So you have to protect your account very well by keeping your wallet Security keys safe, where you are the only one that has access your account.
In my next post I will be introducing some good platform for your crypto tradings, and also how to protect your account by keeping their security Keys safe.
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